IFA support group Lighthouse reported funds under management of around £5.6bn, up 42% since June 2006, in its first interim results since the group's acquisition of LV=.
The group also announced a turnover per adviser of up to £85,000 which is an increase on £71,000 in the same period of 2006. New investment flows were £530m, up from £389m last year. Malcom Streatfield, chief executive of Lighthouse, says the new investment flows come from the group's SIPP administration business, life investments and OEICs. Revenue rose 30% to £26.6m from £20.5m in 2006, while pre-tax profit grew by 66% to £786,000. The group’s recurring income has grown by 76% to £4.1m while its turnover has increased 30% to £26.6m. Lighthouse’s £2m acquisition of LV= was complet...
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